IndusInd Bank has revised its interest rates on fixed deposits, offering rates ranging from 3.50% to 7.75% for the general public and 4% to 8.25% for senior citizens
FD rate hike: Axis Bank offers FD rates of 3.50-7.85% p.a. to senior citizens on tenures ranging from 7 days to 10 years, effective from 5 February 2024
Senior Citizen FD Rates vs SCSS: Banks and NBFCs offer FD interest rates of 2.50-9.50% p.a. to senior citizens on tenures ranging from 7 days to 10 years. On the other hand, SCSS, which is a prominent investment tool, offers 8.2% interest.
The Post Office offers Term or Time Deposit schemes of tenures of 1 year, 2 years, 3 years and 5 years. The interest rate ranges from 6.9 to 7.5 per cent.